3 - child care expenses for each hour he works after taxes...

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
ECON 4616 In-Class Exercises NAME: Prof. Francisca Antman Exercise 3 Budget Sets with Taxes (Borjas 2-4) Tom earns $15 per hour for up to 40 hours of work each week. He is paid $30 per hour for every hour in excess of 40. Tom faces a 20 percent tax rate and pays $4 per hour in
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: child care expenses for each hour he works, after taxes have been deducted from his earnings. Tom receives $80 in child support payments each week. There are 168 hours in the week. Graph Tom’s weekly budget line....
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern